jholden's blog

Offer accepted and escrow opened today!

This is on a shortsale. I had the "in" on this one due to family member. I met the agent I used at the local REI club. I was so green on how to make this work that I thought it best to learn on this one. We agreed to a marketing fee which will be 50% of her commission on the first deal. Then, when her buyer rehabs and sells, I'll get 25% of her commission. She's very smart in this!! She wouldn't have had the deal and some is better than none.

Deal is in San Diego near San Diego State. It is a student rental 4/3 a block from main campus. Great location! Last group in there trashed the place but no structural damage, good roof, pipes, electrical. Buyer will totally upgrade kitchen/baths paint inside/out replace carpets, landscape, etc.

Began RRBP with Dean after watching the two day live event. I wanted to jump in so bad but had no money. I thought I would just ride the wave of all the new imput quickly being shared on the site and all over the site in older posts but I realized I not only wanted but really NEEDED this thing to move sooner than later. I upped the pressure on me a bit and took the plunge with my last cash for bill paying and bought the program.

I'm working the 30-day plan and have turned up solid buyers, solid properties as of today, and am taking a deep breath on what to do next. I listened to the first mentor audio available live last night and I keep hearing Andrea's voice saying TAKE ACTION.

Today I meet with an appraiser and an RE investor/agent I'm working with on short selling a property my sister and I owned. ( I am no longer on title or note ) This is old business I need to finish up.

I met the agent at an REI club here in San Diego. She's smart, aggressive and really gets the investor strategies.

I also chose her because she has a cash buyer who is eating up properties and he wants this house. the house sits two blocks from major university here in San Diego, SDSU. So, today should get this ball rolling faster. Hoping the cash offer will move this a bit quicker. We'll see.

7/7/11 upate ... not much has changed leaving me feeling a bit like Fred Flintstone, running but his car isn't going anywhere. Remember that??!

Anyway, I am studying daily for the CA RE/Brokers license exam. I'm due to take the test in Nov/Dec 11.
For me, is a great foundation, I love to learn about RE and combined with REI education it is a great match.

Now... as for getting out there and stirring things up. No excuses. July half over and I'm still... well... Fred Flintstone. Lost some motivation due to my son graduating from middle school, vacation activities, recovery from car accident, etc. Can come up with endless distractions. Placing ads on craigslist stirs things up every time so... away I go... Yabbadabbadoo!!

With independence day coming up I thought today was a good day to being documenting my REI progress. This will force me to stay on track, tuned in to the DG family, and find the success I'm seeking in REI.

I've had three short sales deals in the works over the last two years. All three were referrals I gave an investor RE broker I worked with when buying my own first two rental properties a few years ago. He agreed to pay me, at the time, a 10% referral fee. I have since begun working with a new Investor RE agent who has agreed to pay me a 25% "marketing fee". This 25% is the same percentage RE agents give to referring agents so the second agent had no problem offering me 25% of a deal she would not have had otherwise. I met this agent at one of the local REI clubs I attend.